ASSEMBLY, No. 4055

STATE OF NEW JERSEY

214th LEGISLATURE

 

INTRODUCED MAY 19, 2011

 


 

Sponsored by:

Assemblyman  DANIEL R. BENSON

District 14 (Mercer and Middlesex)

Assemblyman  WAYNE P. DEANGELO

District 14 (Mercer and Middlesex)

Assemblyman  GORDON M. JOHNSON

District 37 (Bergen)

Assemblywoman  VALERIE VAINIERI HUTTLE

District 37 (Bergen)

Assemblyman  PAUL D. MORIARTY

District 4 (Camden and Gloucester)

Assemblyman  REED GUSCIORA

District 15 (Mercer)

Assemblyman  BRIAN E. RUMPF

District 9 (Atlantic, Burlington and Ocean)

Assemblyman  JAMES W. HOLZAPFEL

District 10 (Monmouth and Ocean)

 

Co-Sponsored by:

Assemblywoman Tucker, Assemblymen Caputo, Greenwald, O'Donnell, Wolfe, Assemblywoman Gove, Assemblymen Malone, Rible, Carroll, Assemblywoman Vandervalk, Assemblymen Delany, Coutinho, Chiusano, A.M.Bucco, Bramnick, O'Scanlon, Rumana, Rudder, Dancer, DiCicco, Assemblywoman N.Munoz, Assemblyman Amodeo, Assemblywoman McHose, Assemblyman DiMaio, Assemblywoman Coyle, Assemblyman Thompson, Assemblywoman Handlin, Assemblymen Peterson, Schroeder, Russo, Senators Beach, Kyrillos, Gordon, Greenstein, Connors, Van Drew and Bateman

 

 

 

SYNOPSIS

     Appropriates funds to DEP for environmental infrastructure projects for FY2012.

 

CURRENT VERSION OF TEXT

     As introduced.

  


An Act appropriating moneys to the Department of Environmental Protection for the purpose of making grants, zero interest loans, or principal forgiveness loans to project sponsors to finance a portion of the costs of environmental infrastructure projects.

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.    a. (1) There is appropriated to the Department of Environmental Protection from the “Clean Water State Revolving Fund” established pursuant to section 1 of P.L.2009, c.77, an amount equal to the federal fiscal year 2011 capitalization grant made available to the State for clean water project loans pursuant to the "Water Quality Act of 1987" (33 U.S.C.s.1251 et seq.), and any amendatory and supplementary acts thereto (hereinafter referred to as the "Federal Clean Water Act").

     (2)   There is appropriated to the Department of Environmental Protection from the “Interim Financing Program Fund” created and established by the New Jersey Environmental Infrastructure Trust pursuant to subsection d. of section 9 of P.L.1985, c.334 (C.58:11B-9) such amounts as may be necessary to supplement the sums appropriated from the Clean Water State Revolving Fund for the purposes of clean water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.

     (3)   There is appropriated to the Department of Environmental Protection from the Drinking Water State Revolving Fund established pursuant to section 1 of P.L.1998, c.84 an amount equal to the Federal fiscal year 2011 capitalization grant made available to the State for drinking water projects pursuant to the "Safe Drinking Water Act Amendments of 1996," Pub.L.104-182, and any amendatory and supplementary acts thereto (hereinafter referred to as the "Federal Safe Drinking Water Act").

     The Department of Environmental Protection is authorized to transfer from the Clean Water State Revolving Fund to the Drinking Water State Revolving Fund an amount up to the maximum amount authorized to be transferred pursuant to the Federal Safe Drinking Water Act to meet present and future needs for the financing of eligible drinking water projects, and an amount equal to said maximum amount is hereby appropriated to the department for those purposes.

     The Department of Environmental Protection is authorized to transfer from the Drinking Water State Revolving Fund to the Clean Water State Revolving Fund an amount up to the maximum amount authorized to be transferred pursuant to the Federal Clean Water Act to meet present and future needs for the financing of eligible clean water projects, and an amount equal to said maximum amount is hereby appropriated to the department for those purposes.

     (4)   There is appropriated to the Department of Environmental Protection the unappropriated balances from the “Clean Water State Revolving Fund” and any repayments of loans and interest therefrom, for the purposes of clean water project loans and providing the State match as available on or before June 30, 2012, as required or will be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.

     (5)   There is appropriated to the Department of Environmental Protection the unappropriated balances from the "Wastewater Treatment Fund" established pursuant to section 15 of the "Wastewater Treatment Bond Act of 1985" (P.L.1985, c.329), and any repayments of loans and interest therefrom, as available on or before June 30, 2012, for the purposes of clean water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.

     (6)   There is appropriated to the Department of Environmental Protection the unappropriated balances from the “1992 Wastewater Treatment Fund” established pursuant to section 27 of the “Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992” (P.L.1992, c.88), and any repayments of loans and interest therefrom, as available on or before June 30, 2012, for the purposes of clean water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.

     (7)   There is appropriated to the Department of Environmental Protection the unappropriated balances from the “2003 Water Resources and Wastewater Treatment Fund” established pursuant to subsection a. of section 19 of the “Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003” (P.L.2003, c.162), and any repayments of loans and interest therefrom, as available on or before June 30, 2012, for the purposes of clean water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.

     (8)   There is appropriated to the Department of Environmental Protection the unappropriated balances from the Drinking Water State Revolving Fund for the purposes of drinking water project loans and any repayments of loans and interest therefrom, that are or may become available on or before June 30, 2012.

     (9)   There is appropriated to the Department of Environmental Protection such sums as may be needed from loan repayments and interest earnings from the "Water Supply Fund" for the "Drinking Water State Revolving Fund (DWSRF) Match Accounts" contained within such fund for the purpose of providing the State match as required or will be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act.

     (10) There is appropriated to the Department of Environmental Protection from “Interim Financing Program Fund” created and established by the New Jersey Environmental Infrastructure Trust pursuant to subsection d. of section 9 of P.L.1985, c.334 (C.58:11B-9) such amounts as may be or become available on or before June 30, 2012, and any repayments of loans and interest therefrom, as may be necessary to supplement the sums appropriated from the Drinking Water State Revolving Fund for the purposes of drinking water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Safe Drinking Water Act.

     (11) There is appropriated to the Department of Environmental Protection such sums as may be or become available on or before June 30, 2012, as repayments of drinking water project loans and any interest therefrom from the “Water Supply Fund” established pursuant to section 14 of the “Water Supply Bond Act of 1981” (P.L.1981, c.261) for the purposes of drinking water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act.

     (12) Of the sums appropriated to the Department of Environmental Protection from the "Water Supply Fund" pursuant to P.L.1999, c.174, P.L.2001, c.222, P.L.2002, c.70 and P.L.2003, c.158, the department is authorized to transfer any unexpended balances and any repayments of loans and interest therefrom as may be or become available on or before June 30, 2012, in such amounts as needed to the Drinking Water State Revolving Fund accounts contained within the Water Supply Fund established for the purposes of providing drinking water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act.

     (13) Of the sums appropriated to the Department of Environmental Protection from the "1992 Wastewater Treatment Fund" pursuant to P.L.1996, c.85, P.L.1997, c.221, P.L.1998, c.84, P.L.1999, c.174, P.L.2000, c.92, P.L.2001, c.222 and P.L.2002, c.70, the department is authorized to transfer any unexpended balances and any repayments of loans and interest therefrom as may be or become available on or before June 30, 2012, in such amounts as needed to the Clean Water State Revolving Fund accounts contained within the 1992 Wastewater Treatment Fund for the purposes of providing clean water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.

     (14) Of the sums appropriated to the Department of Environmental Protection from the "2003 Water Resources and Wastewater Treatment Fund" pursuant to P.L.2004, c.109, and P.L.2007, c.139, the department is authorized to transfer any unexpended balances and any repayments of loans and interest therefrom as may be or become available on or before June 30, 2012, in such amounts as needed to the Clean Water State Revolving Fund accounts contained within the 2003 Water Resources and Wastewater Treatment Fund for the purposes of providing clean water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.

     (15) There is appropriated to the Department of Environmental Protection the sums deposited by the New Jersey Environmental Infrastructure Trust into the “Clean Water State Revolving Fund,” the "Wastewater Treatment Fund," the "1992 Wastewater Treatment Fund," the "Water Supply Fund," the "Stormwater Management and Combined Sewer Overflow Abatement Fund," the "2003 Water Resources and Wastewater Treatment Fund" and the Drinking Water State Revolving Fund, as appropriate, pursuant to paragraph (6) of subsection c. of section 1 of P.L.    , c.    (pending before the Legislature as Senate Bill No.    of 2011 and Assembly Bill No.    of 2011), as available on or before June 30, 2012, for the purposes of providing clean water project loans and drinking water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act and drinking water projects pursuant to the Federal Safe Drinking Water Act.

     Any such amounts shall be for the purpose of making zero interest and principal forgiveness financing loans, to the extent sufficient funds are available, to or on behalf of local government units or public water utilities (hereinafter referred to as "project sponsors") to finance a portion of the cost of construction of clean water projects and drinking water projects listed in sections 2 and 3 of this act, and for the purpose of implementing and administering the provisions of this act, to the extent permitted by the Federal Clean Water Act, and any amendatory and supplementary acts thereto, the “Clean Water State Revolving Fund Act” (P.L.2009, c.77 and any amendatory and supplementary acts thereto), the "Wastewater Treatment Bond Act of 1985" (P.L.1985, c.329), the "Water Supply Bond Act of 1981" (P.L.1981, c.261), the "Stormwater Management and Combined Sewer Overflow Abatement Bond Act of 1989" (P.L.1989, c.181), the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992" (P.L.1992, c.88), the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003" (P.L.2003, c.162), the Federal Safe Drinking Water Act, and any amendatory and supplementary acts thereto, and State law.

     b.    The department is authorized to make zero interest and principal forgiveness financing loans to or on behalf of the project sponsors for the environmental infrastructure  projects listed in subsection a. of section 2, and subsections a. and b. of section 3, of this act for clean water projects, up to the individual amounts indicated and in the priority stated, provided:

     (1)   a maximum of $17 million shall be issued to Barnegat Bay Watershed storm water improvement projects as provided in subsection a. of section 3 of this act, addressing projects in the priority stated to the extent there are sufficient eligible project applications, wherein principal forgiveness shall not exceed 100 percent of the fund loan amount per project sponsor.

     Of the $17 million: (a) $1 million shall be made available as principal forgiveness loans to purchase storm water maintenance equipment which shall be limited to a maximum principal forgiveness loan of up to $250,000, except that any such amounts may be reduced if a project fails to meet the requirements of section 4 or 5 of this act or by the Commissioner of Environmental Protection pursuant to section 6 of this act;

     (b)   $11 million shall be made available for the highest ranked non-equipment projects in ranked order as 100% principal forgiveness loans, except that any such amounts may be reduced if a project fails to meet the requirements of section 4 or 5 of this act or by the Commissioner of Environmental Protection pursuant to section 6 of this act; and

     (c)   $5 million shall be made available as 25% principal forgiveness loans for the remaining highest ranked non-equipment projects in ranked order, except that any such amounts may be reduced if a project fails to meet the requirements of section 4 or 5 of this act or by the Commissioner of Environmental Protection pursuant to section 6 of this act;

     (2)   a minimum of 20 percent of the 2011 Clean Water State Revolving Fund capitalization grant shall be issued to projects in subsection b. of section 3 of this act addressing green infrastructure, water or energy efficiency improvements, or other environmentally innovative activities allocated to projects in the priority stated, to the extent there are sufficient eligible project applications; and

     (3)   principal forgiveness loans shall not exceed 30 percent of the amount of the 2011 Clean Water State Revolving Fund capitalization grant, wherein principal forgiveness shall not exceed the lesser of 20 percent or $2 million of the combined trust loan amount and fund loan amount per project sponsor and allocated to projects in subsection b. of section 3 of this act in the priority stated, and except that any such amount may be reduced if a project fails to meet the requirements of section 4 or 5 of this act, or by the Commissioner of Environmental Protection pursuant to section 6 of this act.

     c.     The department is authorized to make zero interest and principal forgiveness financing loans to or on behalf of the project sponsors for the environmental infrastructure projects listed in subsection b. of section 2 and subsection c. of section 3 of this act for drinking water projects, up to the individual amounts indicated and in the priority stated, provided: (1) a minimum of 20 percent of the 2011 Drinking Water State Revolving Fund capitalization grant shall be issued to projects in subsection c. of section 3 of this act addressing green infrastructure, water or energy efficiency improvements, or other environmentally innovative activities allocated to projects in the priority stated, to the extent there are sufficient eligible project applications; and (2) a minimum of 30 percent of the 2011 Drinking Water State Revolving Fund capitalization grant shall be issued to projects for principal forgiveness financing loans, wherein principal forgiveness to other than drinking water systems servicing fewer than 500 residents shall not exceed the lesser of 20 percent or $2.5 million of the combined trust loan amount and fund loan amount per project sponsor and allocated to projects in subsection c. of section 3 of this act in the priority stated or wherein principal forgiveness to drinking water systems servicing fewer than 500 residents shall not exceed the lesser of 50 percent or $5 million of the combined trust loan amount and fund loan amount per project sponsor and allocated to projects in subsection c. of section 3 of this act in the priority stated, and except that any such amount may be reduced if a project fails to meet the requirements of section 4 or section 5 of this act, or by the Commissioner of Environmental Protection pursuant to section 6 of this act.

     d.    The department is authorized to make zero interest and principal forgiveness financing loans to or on behalf of the project sponsors for the environmental infrastructure projects listed in sections 2 and 3 of this act under the same terms, conditions and requirements as set forth in this section from any unexpended balances of the amounts appropriated pursuant to section 1 of P.L.1987, c.200, section 2 of P.L.1988, c.133, section 1 of P.L.1989, c.189, section 1 of P.L.1990, c.99, section 1 of P.L.1991, c.325, section 1 of P.L.1992, c.38, section 1 of P.L.1993, c.193, section 1 of P.L.1994, c.106, section 1 of P.L.1995, c.219, section 1 of P.L.1996, c.85, section 1 of P.L.1997, c.221, section 2 of P.L.1998, c.84, section 2 of P.L.1999, c.174, section 2 of P.L.2000, c.92, sections 1 and 2 of P.L.2001, c.222, sections 1 and 2 of P.L.2002, c.70, sections 1 and 2 of P.L.2003, c.158, sections 1 and 2 of P.L.2004, c.109, sections 1 and 2 of P.L.2005, c.196, sections 1 and 2 of P.L.2006, c.68, sections 1 and 2 of P.L.2007, c.139, sections 1 and 2 of P.L.2008, c.68, sections 1 and 2 of P.L.2009, c.102 and sections 1 and 2 of P.L.2010, c.63, including amounts resulting from the low bid and final building cost reductions authorized pursuant to section 6 of P.L.1987, c.200, section 7 of P.L.1988, c.133, section 6 of P.L.1989, c.189, section 6 of P.L.1990, c.99, section 6 of P.L.1991, c.325, section 6 of P.L.1992, c.38, section 6 of P.L.1993, c.193, section 6 of P.L.1994, c.106, section 6 of P.L.1995, c.219, section 6 of P.L.1996, c.85, section 6 of P.L.1997, c.221, section 7 of P.L.1998, c.84, section 6 of P.L.1999, c.174, section 6 of P.L.2000, c.92, section 6 of P.L.2001, c.222, section 6 of P.L.2002, c.70, section 6 of P.L.2003, c.158, section 6 of P.L.2004, c.109, section 6 of P.L.2005, c.196, section 6 of P.L.2006, c.68, section 6 of P.L.2007, c.139, section 6 of P.L.2008, c.68, section 7 of P.L.2009, c.102 and section 6 of P.L.2010, c.63, and from any repayments of loans and interest from the “Clean Water State Revolving Fund,” the "Wastewater Treatment Fund," the “Water Supply Fund,” the "1992 Wastewater Treatment Fund," the "2003 Water Resources and Wastewater Treatment Fund," and amounts deposited therein during State fiscal year 2011 and State fiscal year 2012 pursuant to the provisions of section 16 of P.L.1985, c.329, and section 2 of P.L.2010, c.77 and any amendatory and supplementary acts thereto, including any Clean Water State Revolving Fund Accounts contained within the "Wastewater Treatment Fund," and from any repayment of loans and interest from the Drinking Water State Revolving Fund.

 

     2.    a. (1) The department is authorized to expend funds for the purpose of making supplemental zero interest loans to or on behalf of the project sponsors listed below for the following clean water environmental infrastructure projects:

 

Project Sponsor

Project Number

Estimated DEP Loan Amount

 Estimated Total Allowable Loan Amount

Bayonne MUA

S340399-30-1

$686,445

$915,260

Bergen County UA

S340386-05-1

$973,907

$1,298,542

Gloucester County UA

S340902-06-1

$240,000

$320,000

Hudson County IA

S340098-01-1

$2,628,632

$3,504,842

Jersey City MUA

S340928-06-1

$1,350,120

$1,800,160

Newark City

S340815-05-1

$7,225,725

$9,634,300

Total:

6

$13,104,829

$17,473,104

 

     (2)   The loans authorized in this subsection shall be made for the difference between the allowable loan amounts required by these projects based upon final building costs pursuant to section 6 of this act and the loan amounts certified by the Commissioner of Environmental Protection in State fiscal years 2006, 2008, 2010, and 2011, and for increased allowable costs as defined and determined in accordance with the rules and regulations adopted by the department pursuant to section 4 of P.L.1985, c.329. The loans authorized in this subsection shall be made to or on behalf of the project sponsors listed, up to the individual amounts indicated and in the priority stated, to the extent sufficient funds are available, except as a project fails to meet the requirements of section 4 or section 5 of this act.

     (3)   The zero interest loans for the projects authorized in this subsection shall have priority over projects listed in subsection b. of section 3 of this act.

     b.    (1) The department is authorized to expend funds for the purpose of making supplemental loans to or on behalf of the project sponsors listed below for the following drinking water environmental infrastructure projects:

 

Project Sponsor

Project Number

Estimated DEP Loan Amount

 Estimated Total Allowable Loan Amount

Dover Town

1409001-002-1

$193,234

$257,645

Lakewood Township MUA

1514002-002/6/7/8/9/10-1

$1,817,937

$2,423,916

Ocean Township

1520001-001-1

$225,330

$300,440

Total:

3

$2,236,501

$2,982,001

 

     (2)   The loans authorized in this subsection shall be made for the difference between the allowable loan amounts required by these projects based upon final building costs pursuant to section 6 of this act and the loan amounts certified by the Commissioner of Environmental Protection in State fiscal years 2009, 2010, and 2011, and for increased allowable costs as defined and determined in accordance with the rules and regulations adopted by the department pursuant to section 5 of P.L.1981, c.261. The loans authorized in this subsection shall be made to or on behalf of the project sponsors listed, up to the individual amounts indicated and in the priority stated, to the extent sufficient funds are available, except as a project fails to meet the requirements of section 4 or section 5 of this act.

     (3)   The zero interest loans for the projects authorized in this subsection shall have priority over the environmental infrastructure projects listed in subsection c. of section 3 of this act.

     c.     The Department of Environmental Protection is authorized to adjust the allowable DEP loan amount for projects authorized in this section to between 25% and 75% of the total allowable loan amount.


     3.    a. The following environmental infrastructure projects shall be known and may be cited as the "State Fiscal Year 2012 Clean Water Barnegat Bay Watershed Project Priority List":

 

Project Sponsor

 

Project Number

 

 Estimated DEP Allowable Loan Amount

Estimated Total Allowable Loan Amount

Equipment

Bay Head Borough

BBE1

$250,000

$250,125

Long Beach Township

BBE2

$250,000

$362,500

Point Pleasant Beach Borough

BBE3

$250,000

$340,750

Seaside Park Borough

BBE4

$250,000

$681,500

Equipment Subtotal: 4

$1,000,000

$1,634,875

Non-Equipment

Stafford Township

BBB1

$1,450,000

$1,450,000

Stafford Township

BBB2

$362,500

$362,500

Ocean County

BBB3

$1,054,747

$1,054,747

Toms River Township

BBB4

$1,740,000

$1,740,000

Ocean County

BBB5

$1,238,254

$1,238,254

Ocean County

BBB6

$839,364

$839,364

Ocean County

BBB7

$497,320

$497,320

Manchester Township

BBB8

$291,495

$291,495

Manchester Township

BBB9

$195,477

$195,477

Ocean County

BBB10

$434,191

$434,191

Jackson Township

BBB11

$1,347,956

$1,347,956

Howell Township

BBB12

$1,477,821

$1,477,821

Howell Township

BBB13

$1,406,486

$1,406,486

Howell Township

BBB14

$583,766

$583,766

Ocean County

BBB15

$990,844

$990,844

Brick Township

BBB16

$1,061,126

$1,061,126

Ocean County

BBB17

$1,653,300

$1,653,300

Little Egg Harbor Township

BBB18

$1,341,250

$1,341,250

Ocean County

BBB19

$577,358

$577,358

Ocean County

BBB20

$1,207,034

$1,207,034

Howell Township

BBB21

$883,537

$883,537

Little Egg Harbor Township

BBB22

$601,750

$601,750

Ocean County

BBB23

$414,483

$414,483

Ocean County

BBB24

$440,526

$440,526

Ocean County

BBB25

$558,917

$558,917

Pine Beach Borough

BBB26

$87,000

$87,000

Ocean County

BBB27

$658,370

$658,370

Ocean County

BBB28

$398,385

$398,385

Ocean County

BBB29

$430,496

$430,496

Ocean County

BBB30

$398,385

$398,385

Ocean County

BBB31

$616,456

$616,456

Jackson Township

BBB32

$582,772

$582,772

Berkeley Township

BBB33

$145,000

$145,000

Little Egg Harbor Township

BBB34

$540,125

$540,125

Ocean County

BBB35

$325,047

$325,047

Ocean County

BBB36

$398,385

$398,385

Ocean County

BBB37

$549,105

$549,105

Beachwood Borough

BBB38

$453,850

$453,850

Manchester Township

BBB39

$145,363

$145,363

Ocean County

BBB40

$244,918

$244,918

Jackson Township

BBB41

$570,031

$570,031

Ocean County

BBB42

$411,558

$411,558

Manchester Township

BBB43

$125,099

$125,099

Ocean County

BBB44

$238,455

$238,455

Ocean County

BBB45

$236,621

$236,621

Ocean County

BBB46

$270,663

$270,663

Manchester Township

BBB47

$36,975

$36,975

Manchester Township

BBB48

$39,440

$39,440

Non-Equipment Subtotal: 48

$30,552,001

$30,552,001

Total:  52

$31,552,001

$32,186,876

 

     b.    The following environmental infrastructure projects shall be known and may be cited as the "State Fiscal Year 2012 Clean Water Project Priority List":

 

Project Sponsor

 

Project Number

 

 Estimated DEP Allowable  Loan Amount

 Estimated Total Allowable Loan Amount

Newark City

S340815-21

$7,423,500

$9,898,000

Elizabeth City

S340942-11

$7,351,500

$9,802,000

Elizabeth City

S340942-13

$8,430,000

$11,240,000

Elizabeth City

S340942-14

$2,176,500

$2,902,000

Jersey City MUA

S340928-09

$1,987,350

$2,649,800

Ocean County UA

S340372-45

$3,764,342

$5,019,123

North Hudson SA

S340952-17

$1,712,625

$2,283,500

North Hudson SA

S340952-18

$405,439

$540,585

Linden Roselle SA

S340299-07

$11,098,380

$14,797,840

Phillipsburg Town

S340874-05

$1,346,250

$1,795,000

Frenchtown Borough

S340331-01

$10,224,375

$13,632,500

Raritan Township MUA

S340485-05

$299,063

$398,750

Bordentown SA

S340219-03

$1,682,100

$2,242,800

Clinton Town

S340924-04

$1,142,250

$1,523,000

Bergen County UA

S340386-11

$11,887,500

$15,850,000

Atlantic County UA

S340809-22

$1,139,483

$1,519,311

Rockaway Valley RSA

S340821-05

$3,711,000

$4,948,000

Maple Shade Township

S340710-07

$1,226,250

$1,635,000

Milltown Borough

S340102-02

$1,084,817

$1,446,422

Camden County MUA

S340640-10

$37,537,500

$50,050,000

Cape May County MUA

S340661-17

$289,275

$385,700

Old Bridge MUA

S340945-10

$3,641,250

$4,855,000

Princeton Borough

S340656-07A

$1,391,234

$1,854,978

Princeton Township

S340656-07B

$1,787,414

$2,383,218

Burlington Township

S340712-09

$1,033,125

$1,377,500

Cinnaminson SA

S340170-04

$1,277,730

$1,703,640

Ocean Township

S340112-02

$632,576

$843,434

Stone Harbor Borough

S340722-04

$6,355,521

$8,474,028

Cranford Township

S340858-01

$707,775

$943,700

Ocean County UA

S340372-46

$3,100,829

$4,134,438

Ocean County UA

S340372-47

$1,806,413

$2,408,551

Cape May County MUA

S340661-15

$349,125

$465,500

Cape May County MUA

S340661-16

$199,500

$266,000

Cape May County MUA

S340661-18

$498,750

$665,000

Old Bridge MUA

S340945-11

$1,616,250

$2,155,000

Raritan Township MUA

S340485-06

$875,438

$1,167,250

Roselle Borough

S340332-01

$2,141,250

$2,855,000

Hamilton Township MUA

S340903-03

$878,220

$1,170,960

Maywood Borough

S340226-01

$1,336,756

$1,782,341

Midland Park Borough

S340227-01

$519,750

$693,000

Long Beach Township

S340023-04

$2,135,835

$2,847,780

Seaside Park Borough

S340083-02

$2,849,632

$3,799,509

Cape May County MUA

S340661-19

$349,125

$465,500

Cape May County MUA

S340661-20

$199,500

$266,000

Pleasantville City

S340752-01

$975,919

$1,301,225

Old Bridge MUA

S340945-08

$6,730,500

$8,974,000

NW Bergen County UA

S340700-09

$4,354,500

$5,806,000

Willingboro Township

S340132-03

$2,032,500

$2,710,000

Newark City

S340815-12

$13,680,665

$18,240,886

Atlantic County UA

S340809-18

$1,665,000

$2,220,000

Gloucester Township

S340364-07

$1,185,938

$1,581,250

Gloucester Township

S340364-08

$525,975

$701,300

Berkeley Township

S340969-10

$528,308

$704,410

Berkeley Township

S340969-11

$286,838

$382,450

Galloway Township

S340892-03

$95,943

$127,924

Little Falls Township

S340716-06

$766,575

$1,022,100

Mount Holly Township

S340817-05

$142,463

$189,950

Linwood City

S340217-01

$587,970

$783,960

Linwood City

S340217-02

$1,469,475

$1,959,300

Highlands Borough

S340901-03

$3,218,400

$4,291,200

Bellmawr Borough

S342011-02

$7,014,568

$9,352,757

New Jersey WSA

S343054-08

$1,579,569

$2,106,092

New Jersey City U.

S340111-02

$12,213,716

$16,284,954

Cape May County MUA

S342017-03

$6,645,000

$8,860,000

Cape May County MUA

S340661-21

$780,000

$1,040,000

Camden County MUA

S340640-12

$3,397,500

$4,530,000

Raritan Township MUA

S340485-08

$1,202,340

$1,603,120

Hanover SA

S340388-04

$5,344,500

$7,126,000

Stafford Township

S344100-01

$3,398,438

$4,531,250

Brick Township

S344030-01

$795,845

$1,061,126

Manchester Township

S344070-01

$625,387

$833,849

Little Egg Harbor Township

S344060-01

$2,378,906

$3,171,875

Hightstown Borough

S340915-03

$618,765

$825,020

Lakehurst Borough

S344150-01

$392,588

$523,450

Seaside Park Borough

S344200-01

$511,125

$681,500

Jackson Township

S344050-01

$1,875,569

$2,500,759

Lacey Township

S344140-01

$245,101

$326,801

Ocean County

S344080-01

$12,546,699

$16,728,932

Toms River Township

S344110-01

$1,560,563

$2,080,750

Howell Township

S344040-01

$3,263,708

$4,351,610

Berkeley Township

S344020-01

$380,625

$507,500

Point Pleasant Borough

S344210-01

$239,250

$319,000

Barnegat Township

S344130-01

$282,750

$377,000

Beachwood Borough

S344010-01

$757,444

$1,009,925

Millstone Township

S344160-01

$271,875

$362,500

Point Pleasant Beach Borough

S344190-01

$255,563

$340,750

Long Beach Township

S344170-01

$918,938

$1,225,250

Ocean Gate Borough

S344180-01

$1,837,875

$2,450,500

Pine Beach Borough

S344090-01

$331,688

$442,250

Bay Head Borough

S344120-01

$187,594

$250,125

Hightstown Borough

S340915-04

$47,981

$63,975

Cranford Township

S340858-06

$707,775

$943,700

Gloucester County UA

S340902-08

$922,500

$1,230,000

Clifton City

S340844-01

$242,894

$323,978

Ewing-Lawrence SA

S340391-09

$1,495,634

$1,994,178

Montclair Township

S340837-02

$904,373

$1,205,830

South Plainfield Borough

S340408-01

$264,075

$352,100

Hightstown Borough

S340915-02

$295,125

$393,500

Kearny MUA

S340259-09

$1,641,900

$2,189,200

Clifton City

S340844-04

$1,332,017

$1,776,022

Middletown Township

S340097-01

$2,767,500

$3,690,000

Harrington Park Borough

S340223-01

$283,943

$378,590

Weehawken Township

S343077-01

$8,625,000

$11,500,000

North Bergen MUA

S340652-11

$1,544,430

$2,059,240

Total:

104

$282,778,102

$377,037,571

 

     c.     The following environmental infrastructure projects shall be known and may be cited as the "State Fiscal Year 2012 Drinking Water Project Priority List":

 

Project Sponsor

Project Number

 Estimated DEP Allowable Loan Amount

 Estimated  Total Allowable Loan Amount

Winslow Township

0436007-007

$2,819,018

$3,758,690

Monroe Township

1213002-001

$3,537,719

$4,716,959

Pemberton Township

0329004-002

$162,743

$216,990

Sea Village Marina

0108021-002

$816,938

$1,089,250

Newark City

0714001-016

$6,688,950

$8,918,600

Newark City

0714001-017

$1,056,075

$1,408,100

Atlantic City MUA

0102001-005

$6,003,075

$8,004,100

Aqua New Jersey Inc.

1505002-001

$604,598

$806,130

Hammonton Town

0113001-004

$4,012,957

$5,350,609

Colonial Estates

0811003-002

$2,126,315

$2,835,086

Aqua New Jersey Inc.

2119001-007

$369,935

$493,246

Seaside Park Borough

1527001-002

$3,209,741

$4,279,654

NJ American Water Co.

0712001-005

$58,500,000

$78,000,000

Long Beach Township

1517001-011

$2,283,755

$3,045,007

Aqua New Jersey Inc.

0415002-007

$906,543

$1,208,724

Westville Borough

0821001-001

$209,640

$279,520

Jersey City MUA

0906001-006

$12,247,500

$16,330,000

New Jersey City U./Jersey City

0906001-005

$953,885

$1,271,847

SE Monmouth MUA

1352005-005

$6,300,124

$8,400,165

Hamilton Twp MUA

0112001-002

$1,087,500

$1,450,000

Stone Harbor Borough

0510001-005

$854,490

$1,139,320

Stone Harbor Borough

0510001-004

$572,861

$763,814

Phillipsburg RA

2119001-006

$2,175,000

$2,900,000

Woodbury City

0822001-001

$2,512,500

$3,350,000

Matawan Borough

1329001-001

$3,615,000

$4,820,000

Ocean Township

1520001-003

$542,150

$722,866

Westville Borough

0821001-002

$652,388

$869,850

Alpha Borough

2102001-001

$1,727,173

$2,302,897

Byram HOA

1904009-002

$189,375

$252,500

Middlesex Water Co.

1225001-013

$3,000,000

$4,000,000

Aberdeen Township

1330002-002

$1,089,525

$1,452,700

Byram HOA

1904009-005

$116,625

$155,500

Matawan Borough

1329001-002

$531,000

$708,000

Washington Twp. MUA

0818004-008

$693,825

$925,100

NJ American Water Co.

0323001-002

$5,314,125

$7,085,500

Lakehurst Borough

1513001-001

$54,863

$73,150

Byram HOA

1904009-004

$21,000

$28,000

Westville Borough

0821001-003

$110,700

$147,600

Hamilton Township MUA

0112001-001

$296,250

$395,000

Byram HOA

1904009-001

$67,500

$90,000

Pemberton Township

0329004-003

$296,250

$395,000

Ocean Township

1520001-002

$194,100

$258,800

Mt. Olive Township

1427015-001

$726,750

$969,000

Byram HOA

1904009-003

$28,875

$38,500

Nutley Township

0716001-001

$2,307,394

$3,076,525

New Jersey WSA

1352005-004

$3,000,000

$4,000,000

Egg Harbor City

0107001-002

$8,050,778

$10,734,370

Collingswood Borough

0412001-002

$249,300

$332,400

Hightstown Borough

1104001-005

$692,430

$923,240

Kearny Town

0907001-001

$704,625

$939,500

Collingswood Borough

0412001-003

$623,250

$831,000

Lakewood Township MUA

1514002-011

$2,587,221

$3,449,628

Clinton Town

1005001-003

$763,730

$1,018,307

Pompton Lakes MUA

1609001-006

$1,857,000

$2,476,000

Clinton Town

1005001-004

$811,796

$1,082,394

Boonton Town

1401001-002

$1,607,000

$2,142,666

Collingswood Borough

0412001-004

$789,450

$1,052,600

Collingswood Borough

0412001-005

$415,500

$554,000

Total:

58

$163,738,810

$218,318,404

 

     d.    The Department of Environmental Protection is authorized to adjust the allowable DEP loan amount for projects authorized in this section to between 25% and 75% of the total allowable loan amount.


     4.    Any financing loan made by the Department of Environmental Protection pursuant to this act shall be subject to the following requirements:

     a.     The Commissioner Environmental Protection has certified that the project is in compliance with the provisions of P.L.1977, c.224, P.L.1985, c.329, P.L.1992, c.88, P.L.1997, c.223, P.L.1997, c.225 or P.L.2003, c.162, and any rules and regulations adopted pursuant thereto;

     b.    The estimated DEP allowable loan amount shall not exceed 75% of the total allowable loan amount of the environmental infrastructure facility for projects listed in subsections a. and b. of section 2 of this act, and in subsections b. and c. of section 3 of this act. The estimated DEP allowable loan amount shall not exceed 100% of the total allowable loan amount of the environmental infrastructure facility for projects listed in subsection a. of section 3 of this act. The loan amount for supplemental loans shall not exceed that percentage of the allowable project cost of the project’s initial program loan;

     c.     The loan shall be repaid within a period not to exceed 23 years of the making of the loan;

     d.    The loan shall be subject to any other terms and conditions as may be established by the commissioner and approved by the State Treasurer, which may include, notwithstanding any other provision of law to the contrary, subordination of a loan authorized in this act to loans made by the trust pursuant to P.L.    , c.   (pending before the Legislature as Senate Bill No.      of 2011 and Assembly Bill No. 4057 of 2011), or to administrative fees payable to the trust pursuant to subsection o. of section 5 of P.L.1985, c.334 (C.58:11B‑5).

 

     5.    The priority lists and authorization for the making of loans pursuant to sections 2 and 3 of this act shall expire on July 1, 2012, and any project sponsor which has not executed and delivered a loan agreement with the department for a loan authorized in this act shall no longer be entitled to that loan.

 

     6.    The Commissioner of Environmental Protection is authorized to reduce or increase the individual amount of loan funds made available to or on behalf of project sponsors pursuant to sections 2 and 3 of this act based upon final or low bid building costs defined in and determined in accordance with rules and regulations adopted by the commissioner pursuant to section 4 of P.L.1985, c.329, section 2 of P.L.1999, c.362 (C.58:12A-12.2) or section 5 of P.L.1981, c.261, provided that the total loan amount does not exceed the original loan amount.

 

     7.    The expenditure of the funds appropriated by this act is subject to the provisions and conditions of P.L.1977, c.224, P.L.1985, c.329, P.L.1992, c.88, P.L.1997, c.223, P.L.1997, c.225 or P.L.2003, c.162, and the rules and regulations adopted by the Commissioner of Environmental Protection pursuant thereto, and the provisions of the Federal Clean Water Act or the Federal Safe Drinking Water Act, and any amendatory and supplementary acts thereto, as appropriate.

 

     8.    The Department of Environmental Protection shall provide general technical assistance to any project sponsor requesting assistance regarding environmental infrastructure project development or applications for funds for a project.

 

     9.    a. Prior to repayment to the Clean Water State Revolving Fund pursuant to section 1 and 2 of P.L.2009, c.77 and any amendatory and supplementary acts thereto, prior to repayment to the "Wastewater Treatment Fund" pursuant to the provisions of section 16 of  P.L.1985, c.329, prior to repayment to the "1992 Wastewater Treatment Fund" pursuant to the provisions of section 28 of  P.L.1992, c.88, prior to repayment to the Drinking Water State Revolving Fund, prior to repayment to the "Stormwater Management and Combined Sewer Overflow Abatement Fund" pursuant to the provisions of section 15 of P.L.1989, c.181, prior to repayment to the "2003 Water Resources and Wastewater Treatment Fund" pursuant to the provisions of section 20 of P.L.2003, c.162, or prior to repayment to the "Water Supply Fund" pursuant to the provisions of section 15 of P.L.1981, c.261, repayments of loans made pursuant to these acts may be utilized by the New Jersey Environmental Infrastructure Trust established pursuant to P.L.1985, c.334 (C.58:11B‑1 et seq.), as amended and supplemented by P.L.1997, c.224, under terms and conditions established by the commissioner and trust, and approved by the State Treasurer, and consistent with the provisions of P.L.1985, c.334 (C.58:11B‑1 et seq.) and federal tax, environmental or securities law, to the extent necessary to secure repayment of trust bonds issued to finance loans approved pursuant to P.L.    , c.   (pending before the Legislature as Senate Bill No.      of 2011 and Assembly Bill No. 4057 of 2011), and to secure the administrative fees payable to the trust pursuant to subsection o. of section 5 of P.L.1985, c.334 (C.58:11B‑5) by the project sponsors receiving trust loans.

     b.    Prior to repayment to the Clean Water State Revolving Fund pursuant to section 1 and 2 of P.L. 2009, c.77 and any amendatory and supplementary acts thereto, prior to repayment to the "Wastewater Treatment Fund" pursuant to the provisions of section 16 of P.L.1985, c.329, prior to repayment to the "1992 Wastewater Treatment Fund" pursuant to the provisions of section 28 of P.L.1992, c.88, prior to repayment to the "Water Supply Fund" pursuant to the provisions of section 15 of P.L.1981, c.261, prior to repayment to the Drinking Water State Revolving Fund, prior to repayment to the "2003 Water Resources and Wastewater Treatment Fund" pursuant to the provisions of section 20 of P.L.2003, c.162, or prior to repayment to the "Stormwater Management and Combined Sewer Overflow Abatement Fund" pursuant to the provisions of section 15 of P.L.1989, c.181, the trust is further authorized to utilize repayments of loans made pursuant to P.L.1989, c.189, P.L.1990, c.99, P.L.1991, c.325, P.L.1992, c.38, P.L.1993, c.193, P.L.1994, c.106, P.L.1995, c.219, P.L.1996, c.85, P.L.1997, c.221, P.L.1998, c.84, P.L.1999, c.174, P.L.2000, c.92, P.L.2001, c.222, P.L.2002, c.70, P.L.2003, c.158, P.L.2004, c.109, P.L.2005, c.196, P.L.2006, c.68, P.L.2007, c.139, P.L.2008, c.68, P.L.2009, c.102, P.L.2010, c.63  or P.L.    , c.    (pending before the Legislature as Senate Bill No.      of 2011 and Assembly Bill No. 4055 of 2011) to secure repayment of trust bonds issued to finance loans approved pursuant to P.L.1995, c.218, P.L.1996, c.87, P.L.1997, c.222, P.L.1998, c.85, P.L.1999, c.173, P.L.2000, c.93, P.L.2001, c.224, P.L.2002, c.71, P.L.2003, c.159, P.L.2004, c.110, P.L.2005, c.197, P.L.2006, c.67, P.L.2007, c.140, P.L.2008, c.67, P.L.2009, c.101, P.L.2010, c.62  or P.L.    , c.    (pending before the Legislature as Senate Bill No.      of 2011 and Assembly Bill No. 4057 of 2011), and to secure the administrative fees payable to the trust under these loans pursuant to subsection o. of section 5 of P.L.1985, c.334 (C.58:11B‑5).

     c.     To the extent that any loan repayment sums are used to satisfy any trust bond repayment or administrative fee payment deficiencies, the trust shall repay such sums to the department for deposit into the Clean Water State Revolving Fund, the "Wastewater Treatment Fund," the "1992 Wastewater Treatment Fund," the "Water Supply Fund," the Drinking Water State Revolving Fund, the "2003 Water Resources and Wastewater Treatment Fund," or the "Stormwater Management and Combined Sewer Overflow Abatement Fund," as appropriate, from amounts received by or on behalf of the trust from project sponsors causing any such deficiency.

 

     10.  The Commissioner of Environmental Protection is authorized to enter into capitalization grant agreements as may be required pursuant to the Federal Clean Water Act or the Federal Safe Drinking Water Act.

 

     11.  There is appropriated to the New Jersey Environmental Infrastructure Trust established pursuant to P.L.1985, c.334 (C.58:11B‑1 et seq.) from repayments of loans and interest deposited in any account, on or before June 30, 2012, including the “Clean Water State Revolving Fund,” the "1992 Wastewater Treatment Fund," the "Water Supply Fund," the "Stormwater Management and Combined Sewer Overflow Abatement Fund," “2003 Water Resources and Wastewater Treatment Fund,” or the Drinking Water State Revolving Fund, as appropriate, and from any net earnings received from the investment and reinvestment of such deposits, such sums as the chairman of the trust shall certify to the Commissioner of Environmental Protection to be necessary and appropriate for deposit into one or more reserve funds or the Interim Financing Program Fund established by the trust pursuant to section 11 of P.L.1985, c.334 (C.58:11B‑11).

 

     12.  This act shall take effect immediately.

 

 

STATEMENT

 

     This bill appropriates certain federal and State moneys to the Department of Environmental Protection (DEP) for the purpose of implementing the 2011 New Jersey Environmental Infrastructure Financing Program, which is expected to finance approximately $650 million in environmental infrastructure projects for State Fiscal Year 2012.

     The New Jersey Environmental Infrastructure Financing Program has completed twenty-four annual financing cycles and financed 931 projects totaling over $5.6 billion throughout the State. The program has reduced financing costs for project sponsors by approximately 25 – 30 percent. From its inception, the program has saved borrowers approximately $1.9 billion, generated construction jobs, and stimulated significant improvements to the State’s clean water and drinking water infrastructure.

     The 2011 New Jersey Environmental Infrastructure Financing Program consists of three loan programs: the Traditional Financing Program, which comprises the large majority of program loan activity, the Planning and Design Financing Program established pursuant to section 1 of P.L.2009, c.59 (C.58:11B-9.2) and the Emergency Loan Program established pursuant to section 4 of P.L.2007, c.138 (C.58:11B-9.1). Projects that are approved to receive Traditional Financing may also receive Interim Financing which provides project financing from the receipt of pre-award approval and project certification until issuance of the project’s long-term bond financing under the Interim Financing program established pursuant to subsection d. of section 9 of P.L.1985, c.334 (C.58:11B-9).

     Approximately $400 million will be available for clean water project loans and $250 million for drinking water project loans under the Traditional Financing Program. Funding sources for the program include prior federal capitalization grants, State bond issue proceeds, and various prior legislative appropriations, loan repayments, interest earnings, and market rate loans made by the New Jersey Environmental Infrastructure Trust (Trust).

     The 2011 Clean Water State Revolving Fund grant is $60 million, and the 2011 Drinking Water State Revolving Fund grant is anticipated to be approximately $18 million. Approximately $12 million of the 2011 Clean Water State Revolving Fund grant together with $3 million in Trust loans will be utilized to finance green and energy efficiency clean water projects totaling approximately $15 million.  Approximately $3.6 million of the 2011 Drinking Water State Revolving Fund grant together with $.9 million in Trust loans will be utilized to finance green and energy efficiency drinking water projects totaling $4.5 million.

     Approximately $30 million of the 2011 Clean Water State Revolving Fund grant together with $7.5 million in Trust loans will be utilized to finance clean water redevelopment projects totaling $37.5 million.  Approximately $18 million of the 2011 Clean Water State Revolving Fund grant and $6 million of the 2011 Drinking Water State Revolving Fund grant will be utilized for principal forgiveness loans.  Principal forgiveness loans will consist of 40 percent Trust Loans and 60 percent Fund loans, wherein one-third of the Fund loan is subject to principal forgiveness.  There is a project cap of $2 million for principal forgiveness per project. No project sponsor may receive principal forgiveness in excess of this amount regardless of the number of projects it is sponsoring. However, a borrower sponsoring multiple projects on the clean water project list may combine the projects and utilize all or any portion of the $2 million on any one or more projects of its choosing.  Long-term financing loans will be made on the basis of priority ranking. Principal forgiveness loans would be based on priority ranking.

     The DEP has established a $17 million reserve for principal forgiveness loans to the highest ranked Barnegat Bay watershed projects to be awarded according to ranking methodology unique to these projects.  Of this reserve, $11 million is allocated for 100% principal forgiveness loans for the highest ranked nutrient reduction projects and an additional $5 million is allocated for the next highest ranked nutrient reduction projects.  For those projects that do not receive 100% principal forgiveness loans, the funding is structured to provide financing with 25% DEP principal forgiveness loans, 50% DEP zero-interest loans, and 25% market rate loans from the Trust.  The remaining $1 million is allocated for nitrogen load reduction equipment purchases for which each project will receive a maximum principal forgiveness loan of up to $250,000.  The source for the principal forgiveness loans is the federal fiscal year 2010 Clean Water capitalization grant.

     The bill appropriates to the DEP moneys from:

     (1)   the Clean Water State Revolving Fund established pursuant to section 1 of P.L.2009, c.77, in an amount equal to the federal fiscal year 2011 capitalization grant made available to the State pursuant to the Federal Clean Water Act for clean water project loans;

     (2)   the “Interim Financing Program Fund” created and established by the Trust pursuant to subsection d. of section 9 of P.L.1985, c.334 (C.58:11B-9), in such amounts as may be necessary to supplement the sums appropriated from the Clean Water State Revolving Fund for clean water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State pursuant to the Federal Clean Water Act;

     (3)   the Drinking Water State Revolving Fund established pursuant to section 1 of P.L.1998, c.84, in an amount equal to the federal fiscal year 2011 capitalization grant made available to the State pursuant to the Federal Safe Drinking Water Act for drinking water projects; and

     (4)   the "Wastewater Treatment Fund" established pursuant to section 15 of the "Wastewater Treatment Bond Act of 1985," (P.L.1985, c.329), in amounts constituting the unappropriated balances therefrom for clean water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State pursuant to the Federal Clean Water Act for clean water projects.

     The bill authorizes the DEP to transfer from the Clean Water State Revolving Fund to the Drinking Water State Revolving Fund an amount up to the maximum amount authorized to be transferred pursuant to the Federal Safe Drinking Water Act to meet present and future needs for the financing of eligible drinking water projects, and appropriate an amount equal to this maximum amount to the DEP for those purposes.

     The bill further appropriates to the DEP moneys from:

     (5)   the “1992 Wastewater Treatment Fund” established pursuant to section 27 of the “Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992” (P.L.1992, c.88), in amounts constituting the unappropriated balances therefrom for the purposes of clean water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act;

     (6)   the “2003 Water Resources and Wastewater Treatment Fund” established pursuant to subsection a. of section 19 of the “Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003” (P.L.2003, c.162), in amounts constituting the unappropriated balances therefrom for the purposes of clean water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act;

     (7)   the Drinking Water State Revolving Fund, in amounts constituting the unappropriated balances therefrom for the purposes of drinking water project loans;

     (8)   the “Water Supply Fund” established pursuant to section 14 of the “Water Supply Bond Act of 1981” (P.L.1981, c.261), in such sums as may be or become available on or before June 30, 2011 as repayments of drinking water project loans therefrom for the purposes of drinking water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act.

     The bill authorizes the DEP to transfer from previous appropriations made from the "Water Supply Fund" any unexpended balances and any repayments of loans and interest therefrom in such amounts as needed to the Drinking Water State Revolving Fund for the purposes of drinking water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for drinking water projects pursuant to the Federal Safe Drinking Water Act.

     The bill authorizes the DEP to transfer from previous appropriations made from the "1992 Wastewater Treatment Fund" any unexpended balances and any repayments of loans and interest therefrom in such amounts as needed to the Clean Water State Revolving Fund Accounts for the purposes of clean water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.

     The bill authorizes the DEP to transfer from an appropriation made from the "2003 Water Resources and Wastewater Treatment Fund" pursuant to P.L.2004, c.109 any unexpended balances and any repayments of loans and interest therefrom in such amounts as needed to the Clean Water State Revolving Fund Accounts for the purposes of clean water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.

     The bill authorizes the DEP to transfer from an appropriation made from the "2003 Water Resources and Wastewater Treatment Fund" pursuant to P.L.2007, c.139 any unexpended balances and any repayments of loans and interest therefrom in such amounts as needed to the Clean Water State Revolving Fund Accounts for the purposes of clean water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act.

     The bill further appropriates to the DEP moneys from the sums deposited by the Trust into the "Wastewater Treatment Fund," the "1992 Wastewater Treatment Fund," the "Water Supply Fund," the "Stormwater Management and Combined Sewer Overflow Abatement Fund," the “2003 Water Resources and Wastewater Treatment Fund” and the Drinking Water State Revolving Fund, as appropriate, pursuant to paragraph (6) of subsection c. of section 1 of P.L.    , c.  (pending before the Legislature as Senate Bill No.  of 2011 and Assembly Bill No. 4057 of 2011), for the purposes of clean water project loans and drinking water project loans and providing the State match as required or will be required for the award of the capitalization grants made available to the State for clean water projects pursuant to the Federal Clean Water Act and drinking water projects pursuant to the Federal Safe Drinking Water Act.

     The DEP would use the funds appropriated under this bill to make zero interest loans to local governments and privately-owned water companies (project sponsors) for 25% - 75% of eligible project costs for (1) $400 million for 110 new clean water projects included in the "State Fiscal Year 2012 Clean Water Project Priority List," and $17 million for 6 clean water projects through supplemental zero interest loans to project sponsors that had previously received a loan; and (2) $250 million for 61 new drinking water projects included in the "State Fiscal Year 2012 Drinking Water Project Priority List," and supplemental loans totaling $3 million to 3 project sponsors that had received an earlier loan. The supplemental loans constitute the difference between the allowable loan amount required by the project and the loan amount certified by the Commissioner of Environmental Protection in State FY 2002, 2004, 2007, 2008, 2009, 2010, and 2011.

     A companion bill, Senate Bill No. and Assembly Bill No. 4057 of 2011, would authorize the Trust to make market rate loans to local governments and privately-owned water companies (project sponsors) for 25% - 75% of eligible project costs for (1) $400 million for 110 new clean water projects included in the "State Fiscal Year 2012 Clean Water Project Priority List," and supplemental loans totaling $17 million to project sponsors that had previously received a loan; and (2) $250 million for 61 new drinking water projects included in the "State Fiscal Year 2012 Drinking Water Project Priority List," and 3 supplemental loans totaling $3 million to project sponsors that had received an earlier loan.

     Under this bill, in conjunction with Senate Bill No. and Assembly Bill No. 4057 of 2011, the 2011 New Jersey Environmental Infrastructure Financing Program would finance $647,997,956 in environmental infrastructure projects for State Fiscal Year 2012 subject to the availability of funds.